Sunday, March 16, 2025 | 04:23 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

Construction major HCC defaults on debt worth Rs 2,161 crore

Company has total dues of Rs 9,727 crore, Rs 4,091 crore of them to Indian banks

Construction major HCC defaults on debt worth Rs 2,161 crore
Premium

Dev Chatterjee Mumbai
Construction major Hindustan Construction Company has defaulted to Rs 2,161 crore of debt as on December last year even as the company’s lenders have initiated a comprehensive debt resolution plan.

The company has a total debt of Rs 9,727 crore and of this, it owes Rs 4,091 crore to Indian banks, the company said in a statement to the stock exchanges. The company’s debt servicing capability was hit due to delays in execution of orders resulting in lower revenues. It was also impacted by high cost debt and high interest outflow, which led to the company incurring net losses continuously.

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in